Crypto Market Stays Subdued as Bitcoin Meanders, Ethereum Recovers From Bybit Hack

The global cryptocurrency market capitalization stood at $3.19 trillion, contracting 0.27% in the last 24 hours.

Leading coins remained weak on Sunday as the cryptocurrency market grappled with the massive $1.4 billion hack on cryptocurrency exchange Bybit.

Bitcoin meandered in the $95,000-$96,000 zone after retracing sharply from the mid-$99,000s following the attack on Friday.

The apex cryptocurrency has failed to reclaim $100,000 in the last three weeks.

Ethereum, the coin at the center of the mega breach, made amends, recovering to an intraday high of $2,850.

Cryptocurrency liquidations hit $131.20 million in the last 24 hours, wiping out $79 in upside bets.

Bitcoin's Open interest rose marginally by 0.75%. More than 50% of the derivatives traders were positioned short for the cryptocurrency, according to the Long/Short ratio, indicating a likelihood of more downsides.

The market sentiment was "Neutral," according to the Crypto Fear & Greed Index.

Top Gainers (24-Hours)

The global cryptocurrency market capitalization stood at $3.19 trillion, contracting 0.27% in the last 24 hours.

Stock futures climbed on Sunday evening. The Dow Jones Industrial Average Futures rose 149 points, or 0.35%, as of 7:46 p.m. EDT. Futures tied to the S&P 500 gained 0.41%, while Nasdaq 100 Futures lifted 0.44%.

Investors will be watching the all-important earnings report of artificial intelligence darling Nvidia Corp. (NASDAQ:NVDA) , slated for Wednesday.

In addition, the Federal Reserve’s favorite inflation gauge, the personal consumption expenditures index, will be released on Friday, providing cues about the central bank’s moves on interest rates.

Stocks reversed from record highs on Thursday. The S&P 500 slid 0.43% to close at 6,117.52. The Dow Jones Industrial Average lost 450.94 points, or 1.01%, to end at 44,176.65, while the tech-focused Nasdaq Composite dipped 0.47% to close at 19,962.36

The sell-offs followed a grim fiscal 2026 forecast by mega-retailer Walmart Inc. (NYSE:WMT). Shares of the company plunged 6.53%.

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Analyst Notes: Widely followed cryptocurrency analyst Miles Deutscher, citing data from derivative data analysis platform Coinglass, showed that none of Bitcoin's bull market peak indicators have yet been triggered.

"If BTC really was on the cusp of a multi-year top, you would expect at least a few of these signals to be flashing. There is still time left in the cycle imo," the analyst added.

Not a single on-chain metric that has historically preceded a top for $BTC was triggered this cycle.

If $BTC really was on the cusp of a multi-year top, you would expect at least a few of these signals to be flashing.

There is still time left in the cycle imo. pic.twitter.com/G8NWFNxVKp

Gladiator, another well-known trader, noted a bull pennant developing on Bitcoin's weekly chart.

"This might take another month before breaking out, but when it happens, I will be ready," the trader predicted.

A bullish pennant pattern indicates a short break during an uptrend, after which the price resumes the rally.

$BTC is developing a beautiful bull pennant on weekly chart.

This might take another month before breaking out, but when it happens, I will be ready.

I am fully ported in $MSTR.

When $BTC breaks out of this bull flag, it is going to get crazy.

$MSTR will finish this year over… pic.twitter.com/f4ygqDszxf

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